First Trust Nasdaq BuyWrite Income ETF
FTLB
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- First Trust Nasdaq BuyWrite Income ETF (FTLB) is an exchange-traded fund that employs a covered call strategy to generate current income and total return on the Nasdaq-100 Index. The fund invests substantially all of its net assets in shares of the Nasdaq-100 Index; writes call options on the Nasdaq-100 Index to receive premium income, providing exposure to large-cap U.S. technology and growth stocks; and holds U.S. Treasury bills or similar securities for collateral. FTLB operates in the U.S. financial markets, targeting income-seeking investors such as retirees, institutions, and tactical allocation strategies. First Trust Portfolios LP serves as the investment adviser, with the fund launched in 2024 and headquartered in Wheaton, Illinois, where First Trust Advisors LP, the primary sponsor, is based. The ETF tracks the Nasdaq-100 BuyWrite Index methodology, systematically selling out-of-the-money call options on the underlying index to enhance yield while retaining upside potential up to the strike price. It distributes monthly dividends from option premiums and dividends, appealing to yield-focused portfolios in a high-interest-rate environment. In recent developments, FTLB expanded its appeal amid rising demand for income ETFs following the Federal Reserve's rate hikes through 2023-2024, with assets under management surpassing $100 million within its first year of inception. The fund benefited from First Trust's strategic enhancements to its options-based ETF lineup, including improved liquidity provisions and integration with First Trust's broader suite of over 50 ETFs covering equities, fixed income, and alternatives. No major acquisitions, partnerships, or reorganizations were reported for FTLB in the last 1-2 years, maintaining focus on its core buy-write strategy amid volatile equity markets.